SAEF bid to stop Thabong Coal merger with South32 dismissed by Competition Tribunal

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SAEF bid to stop Thabong Coal merger with South32 dismissed by Competition Tribunal

The application by the South African Energy Forum (SAEF) to intervene in a proposed coal mining merger between Thabong Coal anSAEF bid to stop Thabong Coal merger with South32 dismissed by Competition Tribunald South32 SA Coal Holdings has been dismissed by the Competition Tribunal.

The Competition Commission made it known that the tribunal has given the go ahead to allow the proposed transaction take place.

Thabong Coal is a subsidiary of Seriti Resources Holdings.

It has been Eskom’s long-term supplier.

The commission indicated that after the merger, Seriti would be the largest coal supplier to Eskom.

It would also have a market share of up to 30%.

However, SAEF which represents 30 small coal mining companies, said the merger is not in their favour.

It explained that that they could face severe business losses as a result of the merger.

The merger would also eventually lead to Eskom purchasing 72% of coal supply from just the two companies.

The post SAEF bid to stop Thabong Coal merger with South32 dismissed by Competition Tribunal appeared first on .

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